Trafalgar Asset Management co-founder Lee Robinson's new firm is set to launch its maiden hedge fund.

Monaco-based Altana Wealth has been running its Sovereign Diversity Fund with US$25 million of Robinson's capital. But the firm is set to open the fund to external investors.

Robinson founded Altana earlier this year after Trafalgar liquidated his Catalyst Fund. Altana runs a global macro strategy investing in sovereign debt, one that he had hoped to launch at Trafalgar until he dropped those plans due to opposition from Trafalgar investors and Goldman Sachs' Petershill Fund, which owns a stake in the firm.

"The goal within our Sovereign Diversity Fund is to profit from the appreciation of currencies of stronger sovereign credits and to protect investors’ wealth from the stealth defaults of debtor nations," Robinson said. "We believe this is a great opportunity for anyone who earns income from or holds wealth in any of the main reserve currencies."